Biden Issues Long-Awaited Executive Order on Crypto

“Already, the Department has worked with the President’s Working Group on Financial Markets, the FDIC [Federal Deposit Insurance Corporation], and OCC [the Office of the Comptroller of the Currency] to study one particular kind of digital asset – stablecoins – and to make recommendations,” Yellen said. “Under the executive order, Treasury and interagency partners will build upon the recently published National Risk Assessments, which identify key illicit financing risks associated with digital assets.”